Overview of Tanzania's Inflation Rates (November 2022 - November 2023): Implications for Monetary and Fiscal Policies in Response to Economic Changes
A comprehensive overview of inflation trends in Tanzania, allowing for an analysis of price changes in specific categories and the overall economy. This information is crucial for policymakers, businesses, and individuals to make informed decisions about economic activities and financial planning.
Overall Inflation Trend:
- The overall inflation rate increased from 109.16 in November 2022 to 112.67 in November 2023.
- The 1-month change in the overall inflation rate was 0.4, indicating a slight increase.
Category-Specific Inflation:
- Food and Non-Alcoholic Beverages:
The category experienced a 1-month increase of 0.4 and a 12-month change of 3.7, indicating a moderate rise in prices over the one-year period.
- Alcoholic Beverages and Tobacco:
This category showed a 1-month increase of 0.7 and a 12-month change of 4.1, suggesting a notable increase in prices over the year.
- Housing, Water, Electricity, Gas, and Other Fuels:
A significant 1-month change of 1.4 was observed in this category, with a 12-month change of 2.8, indicating notable price increases.
- Transport:
The 1-month change was stable at 0.0, but the 12-month change was 2.9, suggesting a moderate increase in transportation costs over the year.
- Restaurants and Accommodation Services:
This category showed a 1-month change of 0.1 and a 12-month change of 4.5, indicating a notable increase in prices for dining and accommodation services.
Stability in Some Categories:
- Categories like Health, Information and Communication, and Education Services showed minimal changes in the 1-month and 12-month periods, suggesting relative stability in these areas.
Diverse Inflation Rates Across Sectors:
- Different sectors experienced varying levels of inflation, indicating that economic factors affecting each category play a role in price fluctuations.
Economic Implications:
- Rising inflation can impact the cost of living, consumer purchasing power, and overall economic stability.
- Sectors with higher inflation rates may face increased costs, potentially affecting businesses and consumers.
Policy Considerations:
- Central banks and policymakers may use this data to assess the effectiveness of monetary and fiscal policies and consider adjustments to maintain price stability.
These figures represent the percentage change in prices for each category, providing insights into the inflation rates in Tanzania for the specified months.
Tanzania across different categories for the months of November 2022, October 2023, and November 2023, along with the 1-month and 12-month changes:
Food and non-alcoholic beverages:
- November 2022: 113.85
- October 2023: 117.57
- November 2023: 118.07
- 1 Month Change: 0.4
- 12 Month Change: 3.7
Alcoholic beverages and tobacco:
- November 2022: 103.63
- October 2023: 107.17
- November 2023: 107.88
- 1 Month Change: 0.7
- 12 Month Change: 4.1
Clothing and footwear:
- November 2022: 107.71
- October 2023: 110.72
- November 2023: 111.23
- 1 Month Change: 0.5
- 12 Month Change: 3.3
Housing, water, electricity, gas, and other fuels Furnishings, household equipment, and routine:
- November 2022: 107.65
- October 2023: 109.19
- November 2023: 110.68
- 1 Month Change: 1.4
- 12 Month Change: 2.8
Household maintenance:
- November 2022: 107.96
- October 2023: 111.41
- November 2023: 111.86
- 1 Month Change: 0.4
- 12 Month Change: 3.6
Health:
- November 2022: 104.94
- October 2023: 106.35
- November 2023: 106.38
- 1 Month Change: 0.0
- 12 Month Change: 1.4
Transport:
- November 2022: 110.48
- October 2023: 113.77
- November 2023: 113.73
- 1 Month Change: 0.0
- 12 Month Change: 2.9
Information and communication:
- November 2022: 103.53
- October 2023: 104.72
- November 2023: 104.85
- 1 Month Change: 0.1
- 12 Month Change: 1.3
Recreation, sports, and culture:
- November 2022: 104.67
- October 2023: 107.58
- November 2023: 108.23
- 1 Month Change: 0.6
- 12 Month Change: 3.4
Education services:
- November 2022: 101.9
- October 2023: 105.48
- November 2023: 105.48
- 1 Month Change: 0.0
- 12 Month Change: 3.5
Restaurants and accommodation services:
- November 2022: 108.39
- October 2023: 113.14
- November 2023: 113.28
- 1 Month Change: 0.1
- 12 Month Change: 4.5
Insurance and financial services:
- November 2022: 100.1
- October 2023: 100.66
- November 2023: 100.74
- 1 Month Change: 0.1
- 12 Month Change: 0.6
Personal care, social protection, and miscellaneous goods and services:
- November 2022: 105.74
- October 2023: 109.27
- November 2023: 109.48
- 1 Month Change: 0.2
- 12 Month Change: 3.5
